David Rainbolt Sells 3,000 Shares of BancFirst (NASDAQ:BANF) Stock

BancFirst Corporation (NASDAQ:BANF) Director David Rainbolt sold 3,000 shares of the stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $115.00, for a total transaction of $345,000.00. Following the completion of the transaction, the director owned 8,506 shares in the company, valued at $978,190. This represents a 26.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

BancFirst Trading Down 0.7%

BANF stock traded down $0.79 during midday trading on Thursday, reaching $113.33. The company’s stock had a trading volume of 120,670 shares, compared to its average volume of 151,082. BancFirst Corporation has a 52 week low of $101.48 and a 52 week high of $138.77. The stock has a market cap of $3.81 billion, a PE ratio of 15.29 and a beta of 0.61. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.05. The business’s 50-day simple moving average is $113.43 and its 200-day simple moving average is $112.34.

BancFirst (NASDAQ:BANF) last issued its earnings results on Friday, July 24th. The bank reported $1.96 EPS for the quarter, beating the consensus estimate of $1.80 by $0.16. The company had revenue of $187.49 million during the quarter, compared to analysts’ expectations of $178.53 million. BancFirst had a net margin of 31.96% and a return on equity of 13.64%. As a group, sell-side analysts expect that BancFirst Corporation will post 7.67 EPS for the current year.

BancFirst Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were paid a dividend of $0.49 per share. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 1.7%. BancFirst’s payout ratio is 26.45%.

Institutional Trading of BancFirst

A number of large investors have recently made changes to their positions in the company. Bank of New York Mellon Corp acquired a new stake in BancFirst during the 2nd quarter worth $17,920,000. State of Wyoming acquired a new position in BancFirst in the second quarter valued at about $551,000. Plan Group Financial LLC bought a new stake in shares of BancFirst in the second quarter worth about $805,000. Edgestream Partners L.P. increased its holdings in shares of BancFirst by 645.7% in the first quarter. Edgestream Partners L.P. now owns 32,139 shares of the bank’s stock worth $3,487,000 after acquiring an additional 27,829 shares in the last quarter. Finally, Royal Bank of Canada raised its position in shares of BancFirst by 17.1% during the first quarter. Royal Bank of Canada now owns 28,169 shares of the bank’s stock worth $3,056,000 after purchasing an additional 4,123 shares during the period. Institutional investors own 51.72% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on BANF. Weiss Ratings lowered BancFirst from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, July 16th. Wall Street Zen raised BancFirst from a “sell” rating to a “hold” rating in a research note on Saturday, July 25th. DA Davidson reaffirmed a “neutral” rating and issued a $125.00 price target on shares of BancFirst in a research note on Friday, June 12th. Zacks Research upgraded shares of BancFirst from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 27th. Finally, Keefe, Bruyette & Woods reduced their price objective on shares of BancFirst from $123.00 to $121.00 and set a “market perform” rating on the stock in a research note on Wednesday. One analyst has rated the stock with a Strong Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, BancFirst presently has an average rating of “Moderate Buy” and a consensus price target of $123.00.

BancFirst Company Profile

BancFirst Corporation is a regional banking holding company based in Oklahoma City, Oklahoma. As the largest state‐chartered bank in Oklahoma, BancFirst offers a comprehensive suite of financial services to individuals, businesses and government entities. Its core business activities include commercial and consumer banking, mortgage lending, treasury management, equipment financing and electronic banking solutions.

The bank operates a network of more than 60 branches across Oklahoma, serving urban centers such as Oklahoma City and Tulsa, as well as rural communities throughout the state.